September 15, 2019

Kentucky Attorney General Andy Beshear has cleared the Evolent Health acquisition of Louisville-based Passport Health Plan. “Based upon our review … the anticipated transactions will result in the protection of charitable assets,” Beshear wrote in a letter to Passport’s attorney. Beshear’s office said in...

Shares of Passport Health Plan‘s would-be buyer Evolent tumbled again Thursday, hitting an all-time low of $7.16. The plummeting stock price also is undermining the finances of Passport, which continues to hold 1.1 million Evolent shares, which, since November, have declined in value by...

Evolent Health expects to get more money from Louisville’s nonprofit Passport Health Plan — one way or another. Evolent CEO Frank Williams said he expects that taking a $70 million majority stake in Passport Health Plan will increase the nonprofit’s annual payments to Evolent...

For-profit health consulting company Evolent Health plans to acquire a $70 million stake in Louisville-based Passport Health Plan, a nonprofit Medicaid administrator. The parties announced the planned deal, which would see Evolent take a 70% stake in Passport, on Wednesday morning. While Evolent CEO...

Shares of the consulting company Evolent Health jumped nearly 7 percent Thursday after the insolvency risk of its biggest customer, Louisville-based Passport Health Plan, appeared to be diminishing. Passport told Insider Friday that its sole revenue stream, Medicaid dollars from the state, was scheduled...

As Passport Health Plan’s future hangs in the balance, the nonprofit disclosed in a new report that it lost $122 million last year, or about twice as much as it previously projected. In a financial statement Passport filed with the Kentucky Department of Insurance,...

Passport Health Plan has implemented “drastic and potentially devastating cost-cutting measures” to avert an insolvency and state meddling, the nonprofit said Friday afternoon. Passport said in a news release that its leaders have cut “tens of millions of dollars from its budget” by taking...

Evolent Health CEO Frank Williams said he hopes the state of Kentucky and Passport Health Plan reach a compromise that prevents the nonprofit’s insolvency — though he warned that the outcome was all but certain. Resolving the lawsuit between the Cabinet for Health and...

A hearing that could determine the fate of Passport Health Plan has been postponed until March 5. Passport, one of five organizations in Kentucky that manage Medicaid benefits, had asked a judge to force the state to distribute Medicaid dollars as it once did...